The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1887-11-24

Another Chicago man has come 70 TN
front. Wall street gossips say fourth place
in the speculative world now belongs to o
westerner The order of power, as given by
them, is: Gould, Sage, Canmack, Jones.
"Nat" the last named is usually called,
though he is down on the letterheads Of
Jones, Kenneth & Mccormick, a Chicago
board Of trade firm, as Nathaniel s." The
career of Jones is another illustration of what
a little luck combined with little shrewd-
ness and good deal OF nerve will do for
man. Only seven years ago this new Wall
street magnate was working on a salary for
the grain firm Of William Young & Co.,
Chicago. He had, however, the privilege of
doing some trading for himself through the
house. This privilege he availed himself Of
SO often and with so much shrewdness that
when he left the employ of the Youngs, in
1881, he had 100000 in clear cash, all made
in ''scalping" operations. This pretty stake
he had made by cautious, steady work,
jumping in and out of the market, ever sat
istied with small profit, just SO it were
profit.
But now his methods changed Feeling
unlimited confidence in himself, and perhaps
overestimating the relative power of his
"stake," he at once began specializing on such
huge scale that his friends predicted his
downfall and endeavored to "pull him up"
while he still had thousand or two left. But
he wouldn't be ''pulled up" He tailed"
after the great pork deal of 1882 with such
plungeS that great many traders thought
Jones the actual leader of the corner, when
he was only trying to make an honest dollar
by initiating the tactics of the real manipu-
lator Anyhow, pork went up from IS to
81, and Jones made u fortune. He antici-
pated the collapse Of the Mcieoch lard
corner and made pot of money out of it,
On the shore of Lake Michigan, north Of
town, is a row of splendid houses Potter
Palmer's castle is one of them Robert Lin
coins mansion another, Nat Jones' a third
Jones made that house out of one deal in
Pullman stock. He and Pullman bought to-
gether on joint account when the stocl; was
under par and held on until they realized
140. The profits of the venture were $3.50 900
and with his share of the pool Jones paid for
his new house,
Nat Jones is still young man and popu-
lar one. He is nervous, active, restless and
never but once, SO his friends say, went into
deal requiring patience, and that was in the
Pullman venture just mentioned. He wants
quick results, moves on his impressions
rather than his logic, and has long been the
leader of a clique of operators in Chicago.
He is not so very rich, perhaps @;l,OO0,O0O
OF 81, 100000 is his rating, but he is a specu-
lative power far beyond the force of his
money. A keen speculator himself and will
ing to plunge large sums, he is at the same
time leader of men who at the word arc
able to exert tremendous influence upon the
market. Just now Jones is Mar
Notwithstanding his great and rapid sue
cess, Mr.. Jones puts on no frills. He is essen
italy u modest man. Not above taking a
stock hint or opinion from a clerk, he was
never known to be vain of his success nor of
personal appearance. 81 have never had
taken," he says, because have
such an ugly phiz. l wear veil in the day
time" WALTER WELLMAN.